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Marketing Information Management (MIM) 2.05: Collect secondary marketing data to ensure accuracy and adequacy of information for decision making Utilizing the internet for SEM information
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Secondary Marketing Information Internet Sources: – www.census.gov www.census.gov Demographic Information Q: How would this info be useful to a sports team? A: Target Market and Support for teams. – Local Chamber of Commerce Information on Local Businesses Q: What role do businesses play in sports? A: Sponsorships and Competition.
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Secondary Marketing Information Internet Sources: – Online Trade Journals Sports Business Research Network: www.sbrnet.com www.sbrnet.com Sports Business Journal: http://www.sportsbusinessdaily.com http://www.sportsbusinessdaily.com – Q: What useful information does this provide? www.athletepromotions.com – Q: How can businesses utilize this information? http://www.licensing.org/ – Q: How would this benefit a sports team?
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Internet Sources STRENGTHS AND WEAKNESSES STRENGTHSWEAKNESSES Information is current/updated often Paperless Low to no cost VAST information Too much information Not always accurate Many times information is bias
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2.05 Explain the Importance of monitoring Marketing Information
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What to Monitor? Internal Sources: – Sales Invoices An itemized statement of money owed for a product. Includes customer information. Q: Why should sports teams monitor customers?
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What to Monitor? Internal Sources: – Customer Database A collection of facts, figures, and information (about customers) that is organized and stored. What customer info should be kept in a database? How would a business use this information?
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What to Monitor? Internal Sources: – Sales Reports Information on products sold by the sales department. Q: How would this data be useful?
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What to Monitor? Internal Sources: Customer Comment Cards – Provides direct feedback Q: What questions should be included? Q: What does this measure?
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What to Monitor? External Sources:(The Competition) – Pricing Database Keep a list of competitor’s prices – Q: What should sports teams monitor? – Q: How would you use this information? – Advertising Media Monitor competitor advertising and promotions – Q: Why track competitor advertising? – Q: What can you do with this information? – Be competitive to dominate the competition!
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Internal RecordsCompetitor Database Sales Invoices: Dictates that your team’s target market is 81% Male, 19% Female, Ages 27-52 Sales Reports: The most sold merchandise at games and in retail stores are your team’s jerseys Comment Cards about home games: Strengths at home game attendance- Comfortable seats and good concessions Weaknesses: Can’t see scoreboard and not enough box seats. Price Lists: Jersey:$69.99 for Jersey (Men), $49.99 (Women) and $29.99 (Kids) Advertising Media: Radio Commercials 3x a day, every day from 6am-6pm on 96.1 FM and 10.29 FM during football season. One-Page ads in Sports Illustrated every issue all year One-Page ads in local newspaper every Sunday during football season
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